NOKIA BELL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
NOKIA BELL
NACE 26.300, Manufacture of computer, electronic and optical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€36.9m
2024 · €34.1m+€2.9m
Equity
€168.8m
2024 · €131.8m+€36.9m
Cash
€491,652
2024 · €354,933+€136,718
Balance sheet total
€281.9m
2024 · €254.8m+€27.1m
Largest movements
Assets
- Deferred charges and accrued income +€14.2m
up €14.2m (+362.2%), from €3.9m to €18.1m
- Receivables within one year +€13.2m
up €13.2m (+11.0%), from €120.1m to €133.2m
of which Trade receivables: +€16.8m
Equity and liabilities
- Profit (loss) carried forward +€36.9m
up €36.9m (+35.4%), from €104.3m to €141.3m
- Other debts -€30.2m
down €30.2m (-95.6%), from €31.6m to €1.4m
- Tax, wage and social debts +€9.8m
up €9.8m (+17.4%), from €56.4m to €66.2m
of which Remuneration and social security: +€8.6m
- Provisions +€7.3m
up €7.3m (+48.1%), from €15.2m to €22.5m
- Trade debts +€3.2m
up €3.2m (+16.3%), from €19.7m to €22.9m
Income statement
- Other operating income +€18.0m
up €18.0m (+22.9%), from €78.7m to €96.8m
- Services and other goods +€6.3m
up €6.3m (+13.0%), from €48.3m to €54.6m
- Provisions +€5.0m
up €5.0m (+218.6%), from €2.3m to €7.3m
- Staff costs -€3.0m
down €3.0m (-1.7%), from €181.7m to €178.7m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€34.1m
Turnover
+€93,308
Other operating income
+€18.0m
Goods and materials
-€1.1m
Services and other goods
-€6.3m
Staff costs
+€3.0m
Depreciation
+€1.6m
Write-downs
-€180,514
Provisions
-€5.0m
Other operating charges
-€439,643
Other operating items
-€7.8m
Financial income
+€669,434
Financial charges
+€798,143
Taxes
-€447,043
Result 2025
€36.9m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€103.6m
Investment
-€103.4m
Financing
€0
Cash 2024
€354,933
From operations (derived)
+€103.6m
Net result for the year
+€36.9m
Depreciation
+€105.0m
Receivables after one year
-€1.3m
Smaller working-capital items
+€95,043
Receivables within one year
-€13.2m
Deferred charges and accrued income
-€14.2m
Provisions
+€7.3m
Trade debts
+€3.2m
Tax, wage and social debts
+€9.8m
Other debts
-€30.2m
Investment (derived)
-€103.4m
Investment in fixed assets (net)
-€103.4m
Cash 2025
€491,652
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,810,933 | €281,890,379 | +€27.1m | +10.6% |
| Fixed assets | 21/28 | €103,404,879 | €101,794,888 | -€1.6m | -1.6% |
| Intangible fixed assets | 21 | €90,984,696 | €90,037,136 | -€947,561 | -1.0% |
| Tangible fixed assets | 22/27 | €11,907,283 | €11,274,392 | -€632,891 | -5.3% |
| Land and buildings | 22 | €1,201,489 | €672,187 | -€529,302 | -44.1% |
| Plant, machinery and equipment | 23 | €9,042,523 | €8,771,313 | -€271,210 | -3.0% |
| Furniture and vehicles | 24 | €1,003,923 | €1,006,488 | +€2,565 | +0.3% |
| Other tangible fixed assets | 26 | €70,760 | €68,807 | -€1,954 | -2.8% |
| Assets under construction and advance payments | 27 | €588,588 | €755,598 | +€167,010 | +28.4% |
| Financial fixed assets | 28 | €512,900 | €483,360 | -€29,540 | -5.8% |
| Affiliated companies | 280/1 | €483,360 | €483,360 | = | 0.0% |
| Participating interests | 280 | €483,360 | €483,360 | = | 0.0% |
| Other financial fixed assets | 284/8 | €29,540 | €0 | -€29,540 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €29,540 | €0 | -€29,540 | -100.0% |
| Current assets | 29/58 | €151,406,054 | €180,095,491 | +€28.7m | +18.9% |
| Amounts receivable after more than one year | 29 | €26,269,671 | €27,534,638 | +€1.3m | +4.8% |
| Other amounts receivable | 291 | €26,269,671 | €27,534,638 | +€1.3m | +4.8% |
| Stocks and contracts in progress | 3 | €808,613 | €749,957 | -€58,656 | -7.3% |
| Stocks | 30/36 | €775,720 | €746,694 | -€29,026 | -3.7% |
| Goods purchased for resale | 34 | €775,720 | €746,694 | -€29,026 | -3.7% |
| Advance payments | 36 | €0 | - | = | |
| Contracts in progress | 37 | €32,893 | €3,263 | -€29,630 | -90.1% |
| Amounts receivable within one year | 40/41 | €120,060,165 | €133,233,730 | +€13.2m | +11.0% |
| Trade receivables | 40 | €62,506,406 | €79,351,183 | +€16.8m | +26.9% |
| Other amounts receivable | 41 | €57,553,758 | €53,882,547 | -€3.7m | -6.4% |
| Cash at bank and in hand | 54/58 | €354,933 | €491,652 | +€136,718 | +38.5% |
| Deferred charges and accrued income | 490/1 | €3,912,672 | €18,085,514 | +€14.2m | +362.2% |
| Total equity and liabilities | 10/49 | €254,810,933 | €281,890,379 | +€27.1m | +10.6% |
| Equity | 10/15 | €131,848,951 | €168,752,849 | +€36.9m | +28.0% |
| Contributions | 10/11 | €25,000,000 | €25,000,000 | = | 0.0% |
| Capital | 10 | €25,000,000 | €25,000,000 | = | 0.0% |
| Issued capital | 100 | €25,000,000 | €25,000,000 | = | 0.0% |
| Reserves | 13 | €2,500,000 | €2,500,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500,000 | €2,500,000 | = | 0.0% |
| Legal reserve | 130 | €2,500,000 | €2,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,348,951 | €141,252,849 | +€36.9m | +35.4% |
| Provisions and deferred taxes | 16 | €15,187,771 | €22,489,597 | +€7.3m | +48.1% |
| Provisions for liabilities and charges | 160/5 | €15,187,771 | €22,489,597 | +€7.3m | +48.1% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Major repairs and maintenance | 162 | €4,697,000 | €4,697,000 | = | 0.0% |
| Environmental obligations | 163 | €458,484 | €449,120 | -€9,364 | -2.0% |
| Other liabilities and charges | 164/5 | €10,032,287 | €17,343,477 | +€7.3m | +72.9% |
| Amounts payable | 17/49 | €107,774,212 | €90,647,934 | -€17.1m | -15.9% |
| Amounts payable within one year | 42/48 | €107,687,543 | €90,524,878 | -€17.2m | -15.9% |
| Trade debts | 44 | €19,691,777 | €22,900,999 | +€3.2m | +16.3% |
| Suppliers | 440/4 | €19,691,777 | €22,900,999 | +€3.2m | +16.3% |
| Taxes, remuneration and social security | 45 | €56,429,031 | €66,230,029 | +€9.8m | +17.4% |
| Taxes | 450/3 | €5,804,041 | €7,039,252 | +€1.2m | +21.3% |
| Remuneration and social security | 454/9 | €50,624,990 | €59,190,777 | +€8.6m | +16.9% |
| Other amounts payable | 47/48 | €31,566,735 | €1,393,850 | -€30.2m | -95.6% |
| Accrued charges and deferred income | 492/3 | €86,669 | €123,055 | +€36,387 | +42.0% |
| Operating income | 70/76A | €375,743,012 | €383,051,592 | +€7.3m | +1.9% |
| Turnover | 70 | €186,623,029 | €186,716,337 | +€93,308 | 0.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€35,985 | -€29,630 | +€6,356 | +17.7% |
| Own construction capitalised | 72 | €97,277,513 | €99,602,388 | +€2.3m | +2.4% |
| Other operating income | 74 | €78,740,707 | €96,762,497 | +€18.0m | +22.9% |
| Non-recurring operating income | 76A | €13,137,749 | €0 | -€13.1m | -100.0% |
| Operating charges | 60/66A | €345,801,666 | €351,278,286 | +€5.5m | +1.6% |
| Goods for resale, raw materials and consumables | 60 | €2,923,613 | €4,047,577 | +€1.1m | +38.4% |
| Purchases | 600/8 | €2,956,816 | €4,018,551 | +€1.1m | +35.9% |
| Change in stocks: decrease (increase) | 609 | -€33,203 | €29,026 | +€62,229 | |
| Services and other goods | 61 | €48,311,709 | €54,610,055 | +€6.3m | +13.0% |
| Remuneration, social security and pensions | 62 | €181,662,235 | €178,657,653 | -€3.0m | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,609,256 | €105,043,507 | -€1.6m | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €180,514 | +€180,514 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,291,827 | €7,301,826 | +€5.0m | +218.6% |
| Other operating charges | 640/8 | €962,518 | €1,402,161 | +€439,643 | +45.7% |
| Non-recurring operating charges | 66A | €3,040,506 | €34,992 | -€3.0m | -98.8% |
| Operating profit (loss) | 9901 | €29,941,346 | €31,773,306 | +€1.8m | +6.1% |
| Financial income | 75/76B | €6,638,243 | €7,307,676 | +€669,434 | +10.1% |
| Recurring financial income | 75 | €6,638,243 | €7,307,676 | +€669,434 | +10.1% |
| Income from financial fixed assets | 750 | €2,297,652 | €6,217,318 | +€3.9m | +170.6% |
| Income from current assets | 751 | €3,936,908 | €100,976 | -€3.8m | -97.4% |
| Other financial income | 752/9 | €403,683 | €989,382 | +€585,699 | +145.1% |
| Financial charges | 65/66B | €1,317,521 | €519,378 | -€798,143 | -60.6% |
| Recurring financial charges | 65 | €1,317,521 | €519,378 | -€798,143 | -60.6% |
| Other financial charges | 652/9 | €1,317,521 | €519,378 | -€798,143 | -60.6% |
| Profit (loss) for the period before taxes | 9903 | €35,262,068 | €38,561,605 | +€3.3m | +9.4% |
| Income taxes | 67/77 | €1,210,664 | €1,657,707 | +€447,043 | +36.9% |
| Taxes | 670/3 | €1,210,664 | €2,243,075 | +€1.0m | +85.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €585,368 | +€585,368 | |
| Profit (loss) for the period | 9904 | €34,051,404 | €36,903,898 | +€2.9m | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,051,404 | €36,903,898 | +€2.9m | +8.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.